Cinnamon
is a spice which is acquired from the inner bark of tropical tree
species from genus Cinnamomum. Cinnamon is available in two main
varieties including Cinnamomum cassia and Cinnamomum zeylanicum.
Cinnamomum cassia is a popular spice in North America which has a
dark brown color and stronger taste and is most widely used for
flavoring various food products. Cinnamon zeylanicum is also known
Ceylon cinnamon or true cinnamon which appears in a lighter color
along with having a sweeter and delicate flavor than cassia cinnamon.
The most used cinnamon varieties are pale and parchment-like in
appearance cinnamon species. Cinnamon is primarily used in various
bakery products such as cakes, pancakes, and other baked goods along
with milk and rice puddings. Cinnamon is also used in fruit desserts
and chocolate dishes primarily in pears and apple fruit desserts.
Cinnamon can also be used to spice creams, syrups and flavored wines.
Cinnamon powder is also used for enhancing a variety of drinks, soups
and sweets.
Global
Cinnamon: Market Segmentation
The
global
cinnamon market is segmented on the basis of product type,
application and region. The cinnamon market is segmented on the basis
of product type such as Ceylon cinnamon, Saigon cinnamon, cassia
cinnamon, and korintje cinnamon. In the product type, cassia cinnamon
is widely used spice and is dominating the global cinnamon market as
it is cheaper than others. The global cinnamon market is segmented on
the basis of application in which cinnamon is used in application
such as pharmaceuticals, cosmetics, food and beverage, and others.
Cinnamon are widely used to flavor bread-based products, cereals and
fruit desserts. Cinnamon are used as a spice for flavoring various
savory dishes. Hence, the global cinnamon market is expected to
significantly increase the revenue contribution over the forecast
period.
Global
Cinnamon Market: Regional Outlook
Geographically,
the global cinnamon industry can be divided by major regions which
include North America, Latin America, Western Europe, Eastern Europe,
Asia Pacific, Japan and Middle East and Africa. Globally, among all
regions, Asia Pacific has developed as the dominant region in global
cinnamon market followed by Europe. Increasing demand for spices as a
flavoring agent in various food products, has strengthened the growth
of global cinnamon market and hence is projected to significantly
expand the revenue contribution of the market over the forecast
period.
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Global
Cinnamon Market: Growth Drivers
The
global cinnamon market driving factors are increasing demand for
cinnamon in various food products as a flavoring agent in various
savory dishes and beverages worldwide. Increasing opportunities in
bakery, pharmaceuticals, and cosmetics industries is also another
factor in driving the cinnamon market. Manufacturers are focusing on
providing healthier product offerings by using cinnamon in various
products such as bakery products and confectionery. Cinnamon helps
consumers in managing their blood sugar levels, which is another
major factor for driving the cinnamon seed market worldwide. Cinnamon
is also used in various cereals, and meals, coupled with increasing
consumer demand for cinnamon, in ground format and whole quills, has
also raised among UK food producers, wholesalers, bakers, and
retailers. Hence, the global Cinnamon market is expected to observe
robust growth over the forecast period.
Global
Cinnamon Market: Key Players
Some
of the key players identified across the value chain of the global
cinnamon market include Pure Ceylon Cinnamon, Adam Group, Bio Foods
(Pvt) Ltd., HDDES Group, SDS SPICES (PVT) LTD., Ceylon Spice Company,
Elite Spice, First Spice Mixing Company, C.F. Sauer Company, EHL
Ingredients, and Bart Ingredients. The companies are expected to
expand their business by enhancing their product portfolio in global
cinnamon market. The companies are projected to frame certain
strategies in future in order to gain the competitive advantage in
global cinnamon market till 2025.
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